"CISO as a Service" a solution for SMBs
Challenges for SMBs
Cyber Crime: Small to midsize businesses (SMBs) are increasingly under attack by criminals that seek to steal any information that can be monetized. These attacks can be devastating. In fact as many as “60% of small companies that suffer a cyber-attacks are out of business within six months”.
Regulatory Compliance: State and Federal Governments have established regulations like; HIPPA, SOX, PCI, NYDFS, ISO/IEC 2701-2 that in part govern how all companies use, retain, and protect the confidential information of their company, customers, employees, investors and stock holders. Failure to comply with these regulatory requirements can lead to substantial fines and penalties for the company. Additionally, in the case of a breach at a public company, there may be personal liability for senior management and, Boards of Directors who are found to have neglected their fiduciary responsibilities to protect shareholder value from avoidable risks.
Attacks on SMBs are increasing see; "Why criminals pick on small business”
Experts agree that SMBs are more vulnerable to attack because they lack:
- Expertise - Critical knowledge of information security and regulatory requirements
- Time - required to design, implement and manage an appropriate security program
- Budget - to hire the necessary resources to address security, and compliance vulnerabilities, See: CISOs Average Salary Survey results
PCI’s CaaS Solution for SMBs
There is no question that all companies must address their Information security and regulatory requirements. However, unlike big companies most SMBs don’t have the resources to set up a dedicated information security department that can cost hundreds of thousands dollars to staff and support. At PCI we have cost effective solutions to meet these challenges through our “CISO as a service” (CaaS) program. CaaS delivers the expertise and tools essential to solving the Expertise, Time and Budget challenges that leave SMBs vulnerable to information and compliance risks:
Expertise: Our certified and highly knowledgeable professionals have the expertise to quickly assess your company’s needs. They will provide appropriate solutions that will address your information security vulnerabilities and make sure your company is in compliance with all applicable regulatory requirements.
Time: Our CISO’s will design and manage the execution of your company’s information security and compliance program. Our expertise ensures that the job is done right the first time thus avoiding costly mistakes and delays. As a result we are able to free you and your management team to focus on driving the success of your business.
Competitive advantage: Your clients, investors and employees need to know that your company is doing everything it can to protect their personal information. Therefore your security program can be the deciding factor when they chose between your company and a competitor. Make sure your company is the one they select.
Budget: At PCI we are always looking for ways to be more efficient and deliver savings to our clients. See the section below for some of the approaches we utilize to contain costs and provide savings for our clients.
PCI's approach to Cost Containment for SMBs
- we assess and recommend program enhancements that are suitable, balancing risk and cost, no over selling.
- We are agnostic as to technology and only recommend technologies that are cost effective and appropriate for the company's needs.
- we seek to leverage your company's existing resources. Where ever possible our CISO’s will work with and manage selected technical staff, (or your managed service provider) on procedures related to monitoring and reporting of day-to-day tasks. This approach provides substantial cost savings for our clients.
- our CISOs use our proprietary toolkits and templates that are customizable. They are designed to accelerate assessments, project execution and management reporting. Time saved translates into lower cost for our clients.